Growth Team and Retention Strategy

Study Notes

To determine if your retention is good, you need to check if it is stable and parallel to the x-axis (the y-axis represents the retention metric).
If it is stable and parallel to the x-axis, then your retention is good.
To determine if your retention is good, you need to check if it is in line with "average or media" retention.
If it is in line with "average or media" retention, then your retention is good.
A growth team is important to help accelerate the growth trajectory of a company.
The first growth team hire is typically a Product Manager.
The ideal growth engineer candidate has the following traits:
They are motivated to work and learn from the leadership of the company.
They have a deep understanding of product.
They have a good understanding of customer behavior.
The growth team should have an absolute goal and break it down into sub-goals.
The goal should be a realistic number that is a stretch, but motivating.
The goal should be communicated to the entire company.
The goal should be endorsed by the CEO.
The growth team should identify channels based on user behavior.
Growth teams need to have a strong experiment dashboard in place to run experiments at scale.
Peer review and individual experimentation is important to ensure quality of experiments.
Data alone cannot answer all the questions, and it is equally important to have user researchers in place to really understand what is happening behind the numbers.
Continuously iterate to keep the growth program fresh and effective.

Description

This quiz covers topics related to determining good retention, the role and traits of a growth engineer, setting goals, identifying channels based on user behavior, running experiments, the importance of peer review and user researchers, and the need to continuously iterate for an effective growth program.